On Wednesday, major indexes declined sharply for a 3rd straight session in a row. Volume swelled across the board. Technical indicatos are decisively negative biased. There is no sector leadership and vast majority of stocks are below 50dMA.
This morning, futures are pointing to a HIGHER opening for the major indexes. After recent selling sessions, anticipate a snapback rally to occur. However, anticipate the rally to be short lived....
Focus is on stocks holding above the 50dMA & close to / meeting the CRITERIA.
Selective Chartists Positions (with BUY price): 4 (subscribers only)
Peabody Energy (NYSE:BTU)
Consol Energy (NYSE:CNX)
Southwestern Energy (NYSE:SWN)
Dollar Tree (NASDAQ:DLTR)
Under Armour (NYSE:UA)
First Solar (NASDAQ:FSLR)
Archh Coal (ACI)
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